What is an online marketplace?

The online marketplace model is growing rapidly. In 2021, online marketplaces generated 67% of all global eCommerce sales. By 2027, third-party sales through online marketplaces will be the largest retail channel globally. Though the term “marketplace” has several economic uses, this article focuses on online marketplaces like Amazon and Airbnb.

What are the different types of marketplaces?

Three major types of marketplaces are as follows; A vertical marketplace is an online store that sells only one type of product but its sources are different. TrueFacet.com is a very good example of a vertical store because it offers only jewellery and other related items, but it doesn’t sell clothes, shoes, and electrical stuff at its store.

What is an example of an online marketplace?

Online marketplace examples: Amazon, eBay, Alibaba, Etsy, Airbnb, Tentrr, Uber, Upwork, and so on, plus three examples of thriving Sharetribe-powered marketplaces. Online marketplace vs. eCommerce store: The multi-vendor model is the key difference between an online marketplace and a traditional eCommerce store.